Liabilities and Exclusion for P&I cover

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P&I COVER:- Shipowners take P&I cover to mainly protect themselves from 1/4th collision liability not covered by H&M policy and liability against 3rd party.

P&I cover salient liabilities are:-
1) Cargo claims ( short delivery, loss or damage to cargo)
2) Crew claims ( medical expenses, repatriation etc.)
3) Collision liability ( 1/4th not covered under H&M)
4) Fixed and floating objects ( damage to docks, wharves, bouys)
5) Third party injury and death claims ( stevedores, passengers)
6) Oil pollution liability
7) Miscellaneous claims e.g. custom fines, immigration fines due to improper documentation.

Exclusion for P&I cover are:-
1) ad-valorem bills of lading
2) Deviation
3) Delivery of cargo at a port other than that specified in charter party.
4) Failure to arrive or late arrival at the port of loading
5) delivery of cargo without production of a bill of lading
6) Ante dated or post dated bills of lading
7) Clean bills of lading in case of damaged cargo
8) Arrest or detention of an entered ship
9) Oil pollution liabilities are also limited and is announced for each policy year declared toward the end of current year.



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